If Nigeria does not borrow, the economy will collapse, says Orji Kalu

Orji Kalu, senator representing Abia north, says the Nigerian economy is at risk of collapse if the country does not continue to borrow.

Kalu, a former governor of Abia state, spoke on Monday during an interview on Politics Today, a Channels Television programme.

“Let me tell you, if this economy does not borrow, it collapse. That’s the truth. That’s where we are,” he said.

Kalu said he is not a member of the committee that scrutinises loan requests but insisted that such borrowing is necessary for economic survival.

“Of course, the committee of foreign and local debts used to scrutinise them. I am not a member of that committee. You know these jobs are done mainly at the committee level,” he said.

Kalu sparked public reactions last week when he appeared at the senate wearing a customised outfit emblazoned with the inscription “Tinubu for President 2027”.

Reacting to criticisms about the attire, the former senate chief whip said there was nothing unusual about it.

“Who else would have made that dress other than Aba tailors? It was made in Aba, dyed in Aba and delivered in Aba,” Kalu said.

“It is only Aba people who are hardworking that can do it. It’s very fashionable and I will wear it again.”

He also rejected insinuations that the outfit was for sycophancy.

“Can a man like me be sycophantic? I am not running for anything. Where am I running to? I’m only running to return to the senate,” he said.

“It’s not political sycophancy. I am a man that can’t be sycophantic. It is a uniform for 2027.

“Sure, my house manager just made it available that morning, and I wore it. I don’t see anything wrong in wearing it.

“It’s you press (media) people that saw something wrong. INEC has lifted the ban on the campaign, but we are preparing.”

On whether he is the unofficial campaign manager for Tinubu, Kalu said he would gladly accept the role.

“What is wrong with that? I will be very happy to accept it and do the job for him. I don’t have anything to regret in doing the job,” he said.

Kalu said the president should not be viewed through the lens of regional politics.

“President Tinubu is not the president of the south but the candidate of Nigeria, and I am a Nigerian,” he said.

“I have always said this — every Nigerian should stop addressing himself or herself by region.

“I have asked for legislation where I suggested we remove all local government and state information on forms; people should only fill in that they are Nigerians.”

On concerns that discussing 2027 politics is insensitive, Kalu defended his party’s decision to begin early mobilisation.

“We are a political party, and there must be activities of a political party. We had a midterm assessment of our party where the whole party’s stakeholders gathered,” he said.

“I was in the senate to do my legislative job, and the journalists ran over me. It’s my dress, and I have the right to wear anything I like.

“There is freedom of association and freedom of speech. I also have the right to say what I want to say.”

Kalu also addressed criticism of his previous comments on the economy and Nigerians’ relationship with money.

“I’m not regretting what I said. I work hard for every penny,” he said.

“Most rich people are waiting on these beds to take money from subsidies and sell dollars.

“These are what they have been doing. But it’s not about all Nigerians; I said most Nigerians, not all.”

Kalu said his industrial contributions should not be overlooked in conversations about patriotism and job creation.

“I think about the people more than most of those attacking me. They have money, but they can’t build any industry in Nigeria,” he said.

“I still have about 14,000 Nigerian employees on my payroll today, and I’m building more industries to employ more.

“When I speak the truth, you know I don’t bend my words. I’m not a politician in the first instance — I just found myself doing this.”

He said the president still needs more time to deliver results.

“President Tinubu needs a few more years. I think the economy will have a good sense of direction in two years, and the benefits will start coming,” he said.

“This economy has been in shambles, and it was not caused by anybody.”

On Tinubu’s promise to reduce poverty, Kalu said the public must be realistic about expectations.

“There is no rocket science about it. Nigerians should be patriotic. The whole world is still feeling the effects of COVID,” he said.